WORCESTER STATE UNIVERSITY BOARD OF TRUSTEES. October 18, 2016

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1 WORCESTER STATE UNIVERSITY BOARD OF TRUSTEES October 18, 2016 PRESENT: ABSENT: Trustee George Albro, Chair Trustee Craig Blais, Vice Chair Trustee Maryanne Hammond, Vice Chair Trustee Aleta Fazzone Trustee Corey Laite Trustee Karen LaFond Trustee Stephen Madaus Trustee Dina Nichols Trustee Shirley Steele Trustee David Tuttle President Barry Maloney, Secretary Ms. Judith St. Amand, Assistant Secretary Ms. Nikki Kapurch, Special Assistant to the President Trustee Marina Taylor In accordance with the provisions of General Laws, Chapter 30A having been complied with, and a quorum present, a meeting of the Worcester State University Board of Trustees was held on Tuesday, October 18, 2016 in the Multi-Purpose Room of Sheehan Hall. Trustee Albro called the meeting to order at 6:32 p.m. PARTNERSHIP WITH OFFICE OF NAVAL RESEARCH PRESENTATON Dr. Hemant Pendharkar, Professor in the Department of Computer Science, thanked the Board for granting him time to share his work with Dr. Scott Batson and Dr. Bryan Williams from SPAWAR They were here as a follow up visit to discuss future projects and look at possible avenues for a collaboration between SPAWAR and WSU which would bring undergraduate research, independent study, internships and exposure to cutting edge research for our students Dr. Pendharkar was one of four faculty chosen as a Faculty Research Fellow for the SPAWAR Atlantic Center, located in Charleston Visitors will meet with President Maloney to discuss possible collaborations and the work done by Dr. Pendharkar in more detail The Trustees thanked Dr. Pendharkar for a very informative presentation. APPROVAL OF MINUTES September 13, 2016 Upon a motion by Trustee Fazzone and seconded by Trustee Blais, it was unanimously to approve the minutes of September 13, 2016 as submitted.

2 -2- CHAIR OF THE BOARD UPDATE Great Homecoming Weekend close to 3,000 visitors enjoyed by all and special thanks to those who planned the event Distinguished Donors Reception is upcoming on October 27 th always a very elegant and enjoyable evening Process for selecting a Dean of the School of Humanities and Social Sciences is coming to a close Had an opportunity to sit in on open interviews and found the process most interesting Very important role for trustees to be involved in to show our interest in the hiring of personnel for such key roles on campus The Board is very supportive of the faculty, students and staff and continues to be impressed with the many strides WSU continues to accomplish. Naming of the Floor in Competition Gym of Wellness Center Chairman Albro shared with the group that he had received several letters recommending and supporting the naming of the basketball court in the new Wellness Center in honor of John Brissette All noted the amount of time and effort that John put into making the dream of our Wellness Center a reality He is a tireless supporter of the University and especially in the arena of all athletics He is an alum who has been tremendously loyal serving as an Alumni Board Member, Board of Trustees member, financial donor and will be inducted on November 5th into the WSU Athletic Hall of Fame as a Contributor All agreed that John Brissette is most deserving of this honor The support for naming the basketball court in honor of John P. Brissette was unanimous and the Board recommended after careful review and consultation, and in accordance with the policy in place for naming facilities, to instruct President Maloney to approve and work with appropriate parties to name the floor in the new Wellness Center Competition Gym after John P. Brissette The Board further instructed President Maloney to reach out to Mr. Brissette with this offer and to work with him and WSU staff in planning the event to officially name this facility The Board also requested that this naming event take place during the Athletic Hall of Fame Banquet if it is at all possible. PRESIDENT S REPORT President Maloney thanked the members of the Board who attended the interviews for the Dean of Humanities and Social Sciences President s Update President Maloney noted that the President s Update is in a new format and will focus on the various goals of our Strategic Plan It is the hope that the new format will promote a better understanding of progress being made toward achieving strategic goals

3 This month s focus is on the goal: Promote financial strength and organizational stability -3- Five Years of Leadership and Progress: A hardcopy of this document was distributed to the Board will be shared with other Boards and friends of WSU Document provides an opportunity to reflect on the many accomplishments achieved during the first five years of President Maloney s tenure Cleary Report Update The Clery Act began when Congress enacted the Crime Awareness and Campus Security Act of 1990 in honor of Jeanne Clery, a Lehy University student who was raped and murdered in her dorm room The original Act established the 1 st of many amendments concerning campus safety to the Higher Education Act Since that time more regulations and additional amendments have been added for institutions to report crimes and public them annually In 1998, the Act was renamed the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics or in abbreviated form, The Clery Report Each year all postsecondary institutions must disclose crime statistics by October 1 st for the previous three calendar years Within the categories, each institution must breakdown the statistics into four geographic locations: On-campus and On-Campus Housing, Non-Campus and public property To accomplish this, the University Police review and sort all reported incidents through their date system as well as collaborate with Title IX, Student Conduct, and local police department A copy of the report is available by contacting the WSU Police Department of at the University Police website: APPOINTMENT OF INTERIM DEAN OF HUMANITIES AND SOCIAL SCIENCES Upon a motion by Trustee Hammond and seconded by Trustee Blais, it was unanimously to appoint Dr. Raynold M. Lewis to the position of Interim Dean for the School of Humanities and Social Sciences, based upon the terms described in his letter of appointment dated October 6, FINANCE AND FACILITIES COMMITTEE REPORT Trustee Blais, Chair of Finance & Facilities Committee, invited VP Kathy Eichelroth to join the group and to provide a brief summary of the FY 2016 Audit Report and the impact of the pension obligation as required by the Government Accounting Standard Bulletin #68. A final report of the Audit was not available to include in the posting of materials prior to the F & F Committee meeting

4 -4- A revised Draft ( ) was distributed at the meeting with the pension related figures and a final document will be produced once approved and adopted by the full Board The audit firm provided a clean opinion and there were no findings The assets of Worcester State University exceeded its liabilities at the close of the most recent fiscal year by $104,279,191 (net position). Of this amount, $13,592,318 is classified as unrestricted net assets. The figure is down from FY 2016 due to the draw of $9,500,000 of reserve funds as an equity contribution to the construction of the Wellness Center that occurred in September of 2015, in addition to the required GASB 68 accrual of pension expense of $2,764,131 The University s total unrestricted net position decreased by $10,511,960 with a total change in net position of $24,407,611. Operational items that influenced the total change in net position includes income before other revenues, expenses, gains, or losses of ($1,630,916), in addition to the capital appropriations of $23,038,527 to fund Wellness Center Construction. The net loss prior to capital appropriations is directly attributable to the Commonwealth of Massachusetts pension obligation accrual required by GASB 68 All plans, including any studies for the May Street property, will be shared with the Finance & Facilities Committee The University s viability ratio, calculated as expendable net position divided by long term debt is 1 :.71 and 1 : 1.05 respectively, as of June 30, 2016, and June 30, 2015 The viability ratio measures the availability of expendable net position to cover debt as of the balance sheet date A ratio of 1:1 or greater indicates an institution has sufficient expendable net position to satisfy its debt The University anticipated a significant downturn in its viability ratio in FY 2016 in anticipation of transferring $9.5M to DCAM in September of 2016 in accordance with the financing plan for the Wellness Center During the coming year a plan will be put in place to restore reserves and improve the University s operational ratios Upon a motion by Trustee Hammond and seconded by Trustee Nichols, it was to accept the recommendation of the Finance & Facilities Committee and approve the FY 2016 Audit Report and to authorize the submission of the final document as required. EMERGENCY REPAIRS 535 CHANDLER STREET VP Eichelroth submitted a memorandum dated October 5, 2016 describing the emergency repairs that were required at the President s residence located at 535 Chandler Street It was noted for members of the F&F Committee that the Worcester State Foundation is the owner of the property and there is an MOU that requires the University to provide all upkeep and repairs

5 The situation with the electrical system was deemed a safety hazard requiring emergency action The cost of repairs was $12, and vendor invoices were submitted with the memorandum of October 5th Upon a motion by Trustee Steele and seconded by Trustee Fazzone, it was unanimously -5- to accept the recommendation of the F & F Committee and approve the completed emergency repairs at 535 Chandler Street in the amount of $12, as described in the memorandum of October 5, 2016 from VP Eichelroth and in accordance with the terms described in the MOU between the Worcester State Foundation and the University. OTHER BUSINESS President Maloney discuss the possibility of a Board Retreat in early January Chair of the Board is looking at possible January 9 th beginning at noon and ending with a full Board meeting An official vote to change the date of the meeting will take place in November if needed A DRAFT agenda will be circulated for review and input regarding ideas to be discussed Retreat is to review pertinent information to the Board and no deliberations or action will be taken by the Board President Maloney also briefly reported on the fire in the Student Center last Friday evening It was located on the third floor in the facilities used by Chartwells to prepare food for various events By accident, a sterno was not fully turned off and a nearby box ignited Approximately $250,000 worth of damage to the area mostly ceiling repairs With no insurance, University is liable for repairs The Chair of the Board reminded members that during the next couple of weeks a letter seeking your support will be sent and it would be great if the Board continued to reach a 100% donation goal Upon motion by Trustee Blais and seconded by Trustee Fazzone, it was unanimously to adjourn the meeting at 7:45 p.m. Respectfully submitted, Judith A. St. Amand Assistant Secretary